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COLLINSVILLE, Il (KMOV.com) – Money is tight for many school districts across Illinois, and officials must plan for less money from the state.

The Collinsville School District if facing so many cuts, it’s even considering closing a school.

A new proposal being evaluated would close Twin Echo Elementary School in an effort to save more than $300,000.

In 2013, the state will cut nearly $2 million dollars in funding to Collinsville. In recent years, the district has absorbed the cuts because of budget surpluses. Now, the cushion has run out.

“It’s like having a savings account at home if you spend more than you take in you use up your savings and then what do you have?” asked Superintendent Robert Green. “I think one year one more year without making drastic cuts or changes.”

Nothing will be decided in Collinsville immediately, however Green says it’s likely more cuts could come later in 2013.